This Day in Financial Crisis: Sept. 12, 2008

9/12/2013 10:48AM

Five years ago on this day, a weekend that would go down in history was about to start as Lehman Brother’s scramble to find a buyer stalled. Paul Vigna recaps the events of Sept. 12, 2008. Photo: Getty Images.

This transcript has been automatically generated and may not be 100% accurate.

... almost one year might be we are recounting the events of September two thousand and eight ... take a look back five years ago on this day a week and that would go down in history was about to start ... Lehman Brothers mad scramble to find a buyer was coming to close on this Friday ... with potential suitors locked into a standoff ... with federal officials over the issue of a government backstop ... government was standing firm and wouldn't offer the same time the deal offered JPMorgan when it bought its defense in the spring ... the Sooners were standing firm than they would buy Lehman without it ... the crisis was hitting other stocks as well AIG shares ... are down thirty percent on Friday alone ... almost an adviser about Lehman ... AIG was about to have its own Claps meanwhile ... Merrill Lynch was also scrambling to find a savior ... AIG would buy and sell these in the government ... Maryland to find salvation and Bank of America ... the Lehman Brothers and be left out of the dance ... is what would go down as one of Wall Street's most powering month harrowing ... months ... is reaching its climax follow the crisis of two thousand and all month on the MoneyBeat blogged when our this day increases history series ... join the conversation on Twitter with the hashtag Crisis Plus five ...